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Building A Web-Based Business: Crowdfunding Software Development

Posted In Business - By Techtiplib on Friday, October 26th, 2018 With No Comments »

Get involved with the lucrative area of fintech before its too late.

Crowdfunding businesses are booming. With the segmentation based on niche happening within the market currently, now is the time for many entrepreneurs to get on board and try to get involved.

Crowdfunding is a unique business in that it is one that has become possible only over the past ten years.  Crowdfunding companies are one of the newest institutions for financing projects both big and small, artistic and financial, local and global.

Crowdfunding Platform

The limitations are pretty much the strength of a project and its team and the their ability to sell their project as worthwhile within the boundaries of the law to prospective investors/patrons.

Crowdfunding businesses can take a variety of forms. They can be based on peer to peer lending setups, donation based systems, and more.

How well it works is up to how unique the site is, how good the marketing team is at recruiting prospective users on both sides to keep prospective investors and creators/teams interested, and how well it works out for projects that are funded.

Crowdfunding software needs to be three things:

  1. Easy to use
  2. Reliable
  3. Secure

It should go without saying, one of the most vital things for a site that handles peoples funds is for it to be secure.  This can be done in a variety of ways, but the most important aspect is in how information both financial and personal is handled and the funding options that are permitted.

Some choose direct wires, paypal, or cryptocurrency as suitable ways to cater to their clientele, but it is up to the entrepreneur to decide what works best for their business model.  

What Makes A Great Crowdfunding Platform Great?

Beyond crowdfunding software development at its core, the important of the quality of the experience to the user is paramount.  There are two types of crowdfunding platforms.

One, is the general platform such as kickstarter. They bridge the gap between a massive amount of users and projects of diverse focus that some will enjoy and others will think is a waste of time/money.  These platforms aren’t relegated to being only for artistic nor capital raising for business purposes.

They can take the form of journeys, documentaries, art shows, or other events.  But beyond that, they all tend to have communities that are part of the general community as well as places for smaller communities to come and support projects that they are interested in.

Second, is the more specific crowdfunding platforms. They have more strict focuses catering to anything from specialty alcohol creators to real estate opportunities.  These are more niche and for this reason, they tend to be easier to market for but have harder challenges with direct competition and establishing legitimacy.

Regardless of which you choose, its about isolating what has been done within the industry and figuring out what you can improve upon. When it comes to beating out other platforms, it’s about the strength of both your platform to leave both the investors/users and the project creators feeling satisfied.  

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